Economy
![Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]](resources/toolip/img-thumb/2014/08/11/imf_439_1108-medium.jpg "Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]")
IMF upgrades Greece’s GDP and unemployment rate estimates
In its latest World Economic Outlook (WEO) published on Tuesday, the International Monetary Fund was upbeat in its estimates regarding Greece’s GDP and unemployment rate, upgrading its previous forecasts released on April 12.
Broadly stable rate in time deposits, corporate loan rates fall in Aug
Greek households’ new time deposit rate edged up by 1 basis point (bp) to 0.87 percent in August from 0.86 percent in the previous two months, Bank of Greece (BoG) data displayed on Tuesday.
Draft budget sees primary surplus at 1.8 pct of GDP in 2017, revenue interventions of 2.5 bln
The Finance Ministry (MoF) tabled in Parliament’s Economic Affairs Committee on Monday the 2017 draft budget, which contains its fiscal estimates and the interventions needed to achieve them, as well as the underlying macro assumptions.
PMI slips to contraction territory in September on lower production and new orders
Greece’s Manufacturing PMI fell by 1.2 points to 49.2 in September from 50.4 in August, Markit survey displayed on Monday. This was the sixth sub-50 reading in the course of 2016.
Greek stocks drop 1.5 pct during week, banks post losses of 7.7 pct
The Greek equity market edged down 1.5 percent this week, amid lack of investor interest, after a brief rebound of 2.6 percent last week.
EYDAP increases gross profits by 8.5 percent in H1
The Athens Water Supply and Sewerage Company (EYDAP) has delivered an improved set of H1 results.
Wise men proposals on labour market reforms give Ministry bargaining basis with lenders
The Labour Ministry published on Friday the recommendations of the international committee of experts’ report on labour issues. These include the committee’s conclusions on trade unions, mass layoffs, minimum wage and collective bargaining.
Retail sales rebound by 7.1 pct in July for first time in thirteen months
The turnover of Greece’s retail trade index strongly rebounded by 7.1 percent in July after a drop of 5.2 percent in June, Hellenic Statistical Agency (ELSTAT) figures displayed on Friday.
Economic sentiment falls to 91.4 pts in September, consumer confidence notably rebounds
The economic sentiment (ESI) in Greece fell by 1.1 points in September after improving in the previous two months, the European Commission (EC) figures displayed on Thursday.
PPC’s turnover falls 8.5 pct in H1
Greece’s largest power company, the majority state-owned Public Power Corporation (PPC), has released its H1 financial statement showing that group turnover decreased by 248.8 million euros (8.5 percent) to 2.7 billion in H1 2016 compared to 2.9 billion euros in H1 2015.